Newsletter — October 13th, 2021
Lots of surprise on crypto markets since beginning of September: crypto rallye seems finally launched at last, NFTs are on fire and regulation accelerates as well all over the world.
In this context, we will come back on the latest development for the NPX token and the Group
Market & strategies analysis
The past month has been pretty tough for the crypto market. Bitcoin rejected its first attempt to break the all-important $ 50 -52k area and ended up retracing its rise from the previous month. The difficulties of certain Chinese corporates including Evergrande, whose debt is massively carried by Chinese retail, have pushed China to anticipate the difficult times to come and try to limit capital flight by further toughening its tone vis-à-vis cryptos. Furthermore, the last episode of the eternal American debt ceiling soap opera also weighed heavily.
Since the beginning of October Bitcoin has rebounded much more impulsively and has managed to cross important technical areas. For now, this concludes the most likely outcome is a further rise in the short to medium term, amid hopes that the first US Bitcoin ETF will be accepted in the coming weeks. On the negative side we should keep an eye on inflation which starts to look less and less temporary.
Our strategies did well in the decline of mid-September, but unfortunately suffered a lot in the violent end-of-month range. However, they participate in the rise in October and our long-term models having gone long, they are ready to take advantage from the eventual continuation of the rally.
We have participated early October in the AM tech days at Palais Brongniart in Paris as a panelist and having a booth. This conference was interesting to meet French Institutional investors. They are still a lot of education to do towards this typology of client, especially for regulatory reasons.
However, we have put in place long shot discussion with major players and will now work on it.
About the DAFs, here is the picture as of October 13th 2021:
DAF#1: 2.93M€ (+0.44M€ vs 01/10/2021)
DAF#3: 1.35MUSDT (-0.66MUSDT)
DAF#4: 1.14MUSDT (-0.46MUSDT)
DAF#5: 1.27MUSDT (+0.02MUSDT)
DAF#6: 0.49MUSDT (new)
DAF#7: 26.1M$ (+3.2M$)
Super DAF (pool): 0.07MUSDT (+0.03MUSDT)
We have suffered from few redemptions and have replaced the previous lost DAFs by the following ones in the list to be as clear as possible.
Last, we are currently testing some DAFs on the Ethereum chain to attract new kind of clients, even if the KYC and AML are hurdles to massive diffusion.
NPX promotion, Binance Smart Chain bridge and New Listing
The NapBots promotion from September 8th to September 15th to pay with NPX tokens for the copy trading service was a success. It calls for next rounds and we are thus on it, especially with the coming release of the Napbots V2 platform.
Following internal thoughts and proposals from our community, we are pleased to announce that NPX is now compatible with the Binance Smart Chain (BSC). The speed of this blockchain, the extremely low gas fees ($0.03 on average for a token send, $0.20 for a token swap), the $1 billion grant from Binance to encourage project development on the BSC are important elements letting us to think that it an essential blockchain for the development of the NPX ecosystem.
With this new network, we are also delighted to announce that NPX is now listed on PancakeSwap, the 2nd largest decentralized exchange in the crypto world. This exchange will allow you to buy, sell or provide liquidity on the NPX pool with extremely low fees.
Having taken into account your concerns about the uncertainty around USDT (Tether), we have decided to pay the Licencing Rights in BUSD on the BSC. This will allow you to use, transfer your Licensing Rights while taking advantage of the very low gas fees and the speed of this blockchain.
A Medium article is here to help you you for the reception of your Licensing Rights on the BSC, the ERC20 address that you had registered is the same one that will be used for the BSC (BEP20) for the distribution at the end of October.
Concerning the bridge of the tokens on the Binance chain (BEP2), we have created a bridge to transfer your tokens from the Binance chain (BEP2) to the Binance Smart Chain (BEP20). An article on Medium is here to help you migrate from the Binance Chain to the Binance Smart Chain.
Of course, if you encounter any problem please feel free to contact us on telegram.
Concerned about the expectations and proposals of our community, we will set up a decentralized anonymous organization (DAO) on snapshot.org where each NPX holder will be able to bring proposals for the development of NPX and vote for the validated proposals according to the number of NPX held (1 NPX = 1 vote).
We have said in the previous Newsletter that we would be very happy to organize an AMA session or even a meetup (limited number of persons to 10–15) that could be broadcasted. Thibault and Sacha will come back to you with a poll to organize such a session.
We are fully focused to leverage on the crypto bull cycle through sales activity, strategy research and platforms revamping. We count on you to spread the NPX love and stay at your disposal as always should you have any questions.
Arnaud, Jean-Charles and the team.